>> ^blankfist:
the ability to "store" the value without manipulation from bureaucrats.

If I minted panda feces coins would you be willing to accept them as payment? They would certainly be rarer than gold coins, they no doubt would cost a lot to produce. These facts, the basis on which gold is claimed in the video to be intrinsically valuable, don't work for panda feces, because they don't work at all. That story is just a cover for the hidden assertion that value can be losslessly stored, but it can't, physics won't allow it.

Whether you use controlled creation of fiat currency, or some arbitrary rare material makes no difference, you are still engaging in the fiction that work done 100 years ago is as valuable as work done yesterday, it's not, and never will be.

Using the videos analogy, if the milk the bill represents rots, then the bill is worth rotten milk, no amount of shinny will overcome the fact that the value of all real assets is constantly in decline. Trading in shiny metal does no more to mitigate these realities of the market than using paper does.

Only the lie, the collective agreement to accept as valuable matters, because the "reality" of stable value is, of necessity, false.

>> ^GeeSussFreeK:
BTW, it doesn't even mention fractional reserve...what video where you watching?

A gold standard currency is still subject to a fractional reserve system, if a bank prints 10 $20 bills for every $20 worth of gold, you still have 90% fiat currency.